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Typically, LV's Lifetime Mortgage Lump Sum+ is suitable for clients who:
LV's Lifetime Mortgage Lump Sum+ is not designed for clients who:
For further information read our Equity Release Product Profile.
Debs has had a challenging but rewarding career as a part-time nurse, and is now looking forward to a retirement enjoying freedom and quality time to spend with her friends and on her hobbies.
She’s divorced and lives in Kent – her flat is worth £140k with a small mortgage. With an annual income of £16k, Debs wants the reassurance of accessing money when she needs it as she transitions into retirement.
Our Lifetime Mortgage Lump Sum+ would suit Debs: she keeps on top of her finances and likes to know what she owes without needing to make complex calculations. She’d like a cash boost to help repay an interest-only mortgage and outstanding unsecured loan to support her longer-term plans. With no interest repayments throughout the life of the loan, and fixed early repayment charges, a Lifetime Mortgage Lump Sum+ would be beneficial to Debs.
We’ll lend to an applicant who:
For more information, please refer to our Lending Policy Guide.
Your clients can stay in their home - as long as it’s their legal right, and they meet the terms and conditions of their mortgage.
Your clients need to understand how the terms and conditions of their lifetime mortgage will affect them. They'll need to:
Your client’s partner, civil partner or spouse will need to be named on the property deeds and their Lifetime Mortgage Lump Sum+ application.
Your client can move when their lifetime mortgage is up and running. The new home will need to meet our lending requirements at that time.